Venezuela's 36 billion U.S. dollars within a week of oil investment

September 19, according to media reports in Caracas, Venezuela's President Hugo Chavez September 16, said in the past week, Russia and China have agreed to Venezuela's Orinoco Belt oil projects investment in 36 billion U.S. dollars. Under the agreement, in Russia and China's participation in oil projects in Venezuela's national oil company will own a majority stake.

According to Venezuelan President has said, after two years of negotiations later, Venezuela's finally September 15 in Beijing with the Chinese side signed a Chinese company in the next three years will be located in Venezuela's Orinoco heavy oil belt 16 billion U.S. dollars investment in oil projects. However, Chavez did not disclose the names of Chinese companies. September 12, Venezuela and Russia signed a Russian consortium will be located in Venezuela's Orinoco Belt oil projects invested 20 billion U.S. dollars agreement.

Venezuela's state oil company, said in a statement, with Russia and China signed a contract valid for 25 years, according to the contract, Russia and China will each bring the Orinoco oil belt of oil per day to 450,000 barrels. The world's No. 5 oil exporter and the United States as a key oil supplier Venezuela's Orinoco oil belt is currently being established reserves owned. Orinoco oil belt holds an estimated 234 billion barrels of heavy oil and extra-heavy oil reserves.